Archive for 2017

Becoming a Bank – Varo Articulates the Leap from Fintech to Banking

July 26, 2017
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Colin Walsh Varo

Above: Colin Walsh, CEO and Co-founder, Varo Money Varo Money wants to become Varo Bank. The completely mobile-app driven fintech startup already lets customers juggle financial tasks with the touch of a button but now they want to make it official. Varo has applied for a full national bank charter with the bank’s headquarters in […]

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PayPal & LendUp Bridge Financial Inclusion Gap

July 25, 2017
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Sasha Orloff

Sasha Orloff, CEO, LendUp PayPal put its stamp of approval on fintech startup LendUp, evidenced by a strategic investment by the eBay spinoff in recent weeks. In doing so PayPal demonstrated its commitment to non-prime borrowers, which is the demographic that San Francisco-based LendUp targets. The pairing brings together the chief executives of two companies […]

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Bizfi Founder Stephen Sheinbaum Joins World Business Lenders

July 24, 2017
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World Business Lenders Ribbon Cutting Jersey City

Above: Ribbon cutting at World Business Lenders’ Jersey City office in July 2016 Stephen Sheinbaum has joined NJ-based World Business Lenders as a managing director. Sheinbaum founded Bizfi (Originally Merchant Cash and Capital) in 2005 and served for years as the company’s CEO. Former Lending Club exec John Donovan has been the chief executive of […]

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Revisiting Funding Circle

July 21, 2017
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Funding Circle Logo

Funding Circle’s SME Income Fund delivered profits last year not only in the UK segment, but also in the US segment, according to sources. As the UK is Funding Circle’s home market, it naturally generated more revenue from it, but the margins were actually a lot higher in the US. The Fund’s 12-month calendar year […]

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Russian Billionaire Is Betting Big on Fintech (And Online Lending)

July 20, 2017
Article by:

oleg boyko

Above: Oleg Boyko Russian billionaire Oleg Boyko is putting his chips on fintech. According to an announcement made by one of his companies, Finstar Financial Group, on Wednesday, he is committing $150 million of new capital towards financial technology startups over the next 5 years. And that money may be aimed at online lenders if […]

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‘Debt Relief’ Company is Allegedly Robo-dialing Out Of Control

July 18, 2017
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phone

A lawsuit brought by famous serial TCPA plaintiff Craig Cunningham against defendants who allegedly robo-dial with offers for small business debt relief services, has a new twist, according to recent court records. That is that the defendants allegedly continue to robo-dial Cunningham despite having been served with the suit from him. All told, Cunningham says […]

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Former Bizfi COO Now at iPayment

July 18, 2017
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Former Bizfi chief operating officer Tomo Matsuo is now a senior vice president at iPayment, according to LinkedIn. Matsuo worked at Bizfi from February 2011 until June 2017. In addition to running the company’s operations, he was also president of Bizfi’s Asia affiliate. Last month, iPayment, a payments company with more than 140,000 customers, entered […]

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Bizfi Layoff Tally

July 17, 2017
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According to labor records, Bizfi gave a 90-day layoff notice to 74 employees on May 15th. Less than a month later on June 12th, the company gave notice to another 43 employee, bringing the total to 117. Those layoffs are scheduled to take place on August 13th and September 10th accordingly.

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Beneficiary of NAB/TMS Deal Could Be Rapid Capital Funding

July 14, 2017
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North American Bancard Headquarters

Square is not alone in offering working capital to their payment processing customers. Troy,MI-based North American Bancard (NAB) has been offering their customers merchant cash advances through a Troy-based subsidiary known as Capital For Merchants (CFM) for more than 10 years. And after seeing the growth of that segment, NAB went out and acquired Miami,FL-based […]

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Need Leads This Summer?

July 13, 2017
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UCC Leads - Truck on Wall Street

I am often asked for referrals on things like lead sources. Fortunately our website already has quick cheat sheets on who to call for your everyday merchant cash advance and business lending needs. Below is a link to a few of them: Industry lead sources Accountants and auditors familiar with the industry Industry attorneys – […]

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